The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-06-30
CONDITION OF THE MARKETS
Wheat Opens with Bearish Feeling,
but Slight Reaction Follows,
And the Market Closes Steady-Active Trad
ing in Corn, Accompanied by an Easier Feel
iDg-Light Business in Provisions.


The Upward Course of Prices Continues, and
Meets NO Interruption from Any source.
NEW YORK, June 90 Money on call loaned
n3035 per cent, the last loan being made at
} per cent, closing offered at per cent.
Prime mercantile paper sat per cent.
Sterling exchange was dull but steady at S. s24
Tor sixty day bills and o. S34 for demand.
The total sales OF stocks to-day were $50, 720
shares, including the following: Canada
Southern, 1850: Delaware. Laekawanna s. West
srn. l6 400; Erie II, 26O: Kansas s. Texas, $500;
Lake Shore. $1,000; Louisville Nashville,
Is 500; Missouri Pacific, 1000; Northwestern,
1885, New Jersey Central, $3.50; Pacific Mail,
1917; Reading. 50. TO; st Paul, $3.50; St
Paul & Omaha. 5000; Texas Pacific, $500;
Union Pacific, 5,O45; Western Union, %. $50;
Wheeling 81 Lake Erie, 1920.
The stock market made further progress in the
direction of higher figures today, Western
Union being the leader. both as to activity and
strength. The improvement in the feeling
on the street was most marked. and the
"bull" sentiment high, especially in
Western Union and Lake Shore. The advance
was almost continuous throughout the day and
Manhattan seems to have lost its power to AFFECT
the remainder of the list, as IL was rather weak.
AS on yesterday, several rumors were circulated
which had reAssuring effect upon the street,
most of them referring To the Baltimore d ONO
deal, and the impression that the Western
Union would be found in control of the tele-
graph business was once more very strong. The
bullish utterances of Mr. Could combined with
The increasing of money, which closed
offered at / per cent, and renewed buying for
London account, were all factors in the improve
ment The covering or outstanding short
contracts very heavy, and great deal OF
and confident buying was noticeable.
Western Union was by long odds the
most important stock. and it's transactions
In the last hour simply enormous. while
It's price rapidly advanced The lowest figures
were generally at the opening, while the highest
were either at shortly before the close. First
prices were made AT advances over last evenings
hnal figures extending to per cent The mar
ket extre mey active. but somewhat irree-
ular in the early dealings and at figures shade
lower than the opening. Western Union, Pacific
Mail and the Vanderbilts, however, early be-
came prominent for strength, and the advance
continued until nearly noon, when Manhattan
broke per cent, with little or no effect, how
ever, upon the remainder of the list After
short period of heaviness, the advance was re-
newed with force Western Union. Reading and
Jersey Central being most conspicuous. The
rise eliminated shortly before p. NJ, when
many stocks had reached the highest prices for
the day. Ii osral realzations caused a slight
reaction in Ls last hour, but the market again
became strong before the close the buying In
Western Union being specially heavy, and the
market closed active and strong at or near the
highest prices reached. Everything is higher
this evening and in the active list fractional adj
vances few, while Western Union 10 up III
New England. 81; Jersey Central, 81 San Fran
sisco preferred, q: Pacific Mail and Colorado
Coal each. 2: North western, IL Missouri Pacific,
81 Lake Erie 81 Western preferred, II, and
Union Pacific II.
Rsilroad bonds were more active and stronger,
though the Improvement was chiefly among the
speculative issues. Sales, 81, ACC. 000
Government and State bonds were dull and
steady. Closing quotations were: